a16z Invests $600M in Metaverse Gaming Fund
Source Protocol Ltd is launching a comprehensive DeFi ecosystem across multiple chains that enables users to easily borrow against their crypto assets and generate passive earnings from lending, staking, liquidity pooling, and more. Source’s first product suite, “Source 1.0,” will be introduced on Binance Smart Chain and their proprietary layer 1 smartchain, Source Chain, built in the Cosmos Hub. Focused on-chain inclusivity, security, and solvency, Source plans to fuel the next generation of DeFi through their ever-evolving, all-encompassing ecosystem...
On Tuesday (May 17), generic cross-chain messaging protocol Wormhole announced that it had launched support for the Algorand ($ALGO) blockchain. As Binance Research explained in a research report published in June 2019, Algorand is “a permissionless, pure proof of stake blockchain that ensures full participation, protection and speed within a truly decentralized...
Gas prices on the Ethereum network have been a bane to anyone using it over the past year or so. Prices surged to astronomical highs on several occasions during the 2021 bull market. In 2021, transaction fees on the ETH network spiked as much as 470% due to congestion on the network. But, 2022 might turn out to be different. Now, is that good or bad news for ETH proponents?
The Luna Foundation Guard (LFG) revealed on Monday that the recent Terra crash, and its measures to support UST had wiped out most of its reserves. Its holdings now stand at about $260 million- a far cry from the over $4 billion the LFG commanded less than two weeks ago. It will now deploy this remaining capital towards repaying UST holders, with smallest wallets to be compensated first. But the LFG did not specify how this compensation will take place. The LFG’s...
Popular crypto analytics and market commentary show InvestAnswers says that Solana ($SOL) is likely still the top competitor for Ethereum ($ETH). Speaking in a recent YouTube video, the show’s host told viewers that he still considers Solana a hedge against Ethereum and maintains his “day one thesis” that...
Phew! What a week this has been in the history of cryptocurrency. A week marked by a significant decline in price for most cryptocurrencies which led to massive sell-offs on exchanges. With hodlers on one hand advising investors to tarry and paper hands, on the other hand, exiting to salvage what was left of their investments. Amidst all this madness, we also experienced the de-pegging of the UST stablecoin. This was followed by a severe decline in the value of the...